Etisalat chases stake in Zain

Middle Eastern telecoms company Etisalat said yesterday it still wants to buy a 46 per cent stake in Kuwaiti rival Zain, in response to market rumours that the seller, a consortium led by Kharafi Group, was struggling to recruit enough shareholder support. The firm will this week hear the results of a Kuwaiti court hearing brought by an unhappy Zain shareholder.